Budget Breakdown (Ep. 15) Big Goals, Insufficient Income, NO DEBT!
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- Опубліковано 31 лип 2023
- In this episode of Budget Breakdown, Christine and Dave tackle the budget of a small family with zero debt. The Frugal Fit Spouses praise the discipline of the budget-minded family, but emphasize the importance of increasing their income to accommodate their goals and needs.
If you'd like to be anonymously featured on an episode of Budget Breakdown, DM your detailed budget to Christine on Instagram @frugalfitmom6.
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Do a Yellowstone trip guide video! I would love to make that visit someday. Maybe hit all the high spots and must sees depending on how much time you have to spend there--if you only have two days, do this, if you have a week, do this kind of breakdown. Thanks!
Yes please! ❤🎉
But hurry..I leave in a few weeks.
I appreciate how y’all recognize this is the struggle most middle class people struggle with.
I’m 27, and I follow and listen to everything you guys say! Also, thanks for being the parents some of us don’t have, or hear from! - I take in every suggestion you guys say!
“Don’t put yourself on sale.” CHRISTINE! Wow this really struck me. Yes yes and yes. Thank you for this reminder. I so value your perspective.
Also, would love a Yellowstone vacation guide video! 😎
Ok, Christine, you have a new video to make “Yellowstone Tips”. 😁
We are one of those weird families with 0 subscriptions - no Netflix, no Amazon, no Hulu, etc. You'd be amazed at all the video options that are out there for free!! We do not lack for entertainment. I think subscriptions fall into the "lifestyle creep" that so many of us think we "deserve." When we have big goals (or big debt) then cutting those subscriptions really can help us get to our goals sooner. Those little bits of money add up over time!
I have no subscriptions either, no debt, and would rather spend my $ on something else. Lol 😆
Same!!! Our credit cards (2) are paid off each month, they are mainly used for the cash back. We're debt free.
Please do a Yellowstone tips video!!!
Thank you, Christine and Dave. I've been listen to the last two you posted and I am making changes, late 50s, single, have some savings, a Retirement plan and another savings with my employer. I'm still single, bringing home $3000.00 a month, driving a 12 year car, and going back to college for my degree, paying off myself. Paying off credit card debts, utilities, clothes, eating out, and entertainment...hardly ever unless a friend wants to meet up. I take my lunch every day to work, so buying food, i need to stay on a budget. So I'm listening to you. Hope I'm making a difference.
This was a really helpful budget breakdown for those of us who are very disciplined and yet want to improve still more. And I very much appreciate how, especially Dave, kept giving atta-boys to this family. Thanks also for the reminder that you have lived through this and come out the other side -- bringing hope to the hurting. A Christ-like example. ❤ -- Natalie
I saw this popped up and wanted to cheer! These budget breakdowns with Dave are my very favorite youtube videos, and ive already warched all the other ones
Christine & Dave - love these budget breakdowns! My husband and I switched to MINT mobile. We each have $30/mo unlimited text talk and data. We dont have anymore dead spots than we did with Verizon.
Verizon is pretty awful actually sadly! 😢
I wish I would have had you 20 years ago! I feel so far behind because I didn't know what I didn't know. But now, I share your podcasts with my 22 year old son so that I (you) can hopefully help him be better prepared for retirement than I will be! Thank you
I would LOVE to hear what you have to say about Yellowstone!! It is a dream of mine to go on a family vacation there and being from Minnesota as well, it’s probably a one time trip ❤
Can so relate to this one. No debt but am on a low income.
I have learned so much from you. I used to struggle to stay on a $230 a week budget. This summer I was on an $80 a week budget while trying to use up what we had in our packed freezer. This month I’m at $120 and going strong. I went to the bakery outlet today and bought the same bread my kids always eat and it was only $1! I spent $20 there and got soooo much! Thank you!
I appreciate these breakdowns so much as a single mom. I'm just coming out of storm mode after being out on leave after a car accident thanksgiving weekend. Thankfully, it didn't drain my emergency fund. But I haven't even started contributing to my own and now can. I'm 36. I've been excited coming out of storm mode working on my own budget to finally start contributing to these things. I've been absolutely amazed at what I alone can accomplish with my own resources.
That car accident ... I'm sorry you went through that. You project a good attitude and outlook. Remember, as everyone says, it's a marathon, not a sprint! I thi k you're going to do well.
I was a single mom many years, and I changed jobs every 3 years or so in order to make more money. I also found an opportunity to work 1/2 on weekends with the same company.
I am on a debt free journey and I love watching you do these budget breakdown videos. My husband and I are older and just starting retirement and sometimes I wonder if the IRA is enough to get us there.
Our gas and electric in winter is $650 now in MN.....our house payment is $1000 just an fyi. :) summer I'd around $200-$300
I LOVE these budget breakdown videos! My husband and I are on a very tight budget right now. He's been doing all he can to help raise our income. He's been applying for jobs daily, and nothing so far (but he had an interview today!). It's so helpful to see examples from people in a similar situation to us. Also helpful to see examples of where we might be able to cut our expenses.
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I will say - for a family of 3 in Minnesota (depending on where they live), that isn't bad. Inflation has gone crazy right now. The area I live in (in MN) has two discount stores that are tiny, nothing else. Wal-Mart, Cub, Trader Joes, and Aldi are the only options. No Kroger stores, unfortunately.
Christine - PLEASE do a podcast on traveling to Yellowstone!!!
Go Christine and Dave!!! And go this person for no debt wish I could relate.😩
12:05 One thing to think about is depending on where they live in Minnesota there may be only one or two carriers with good coverage. Traditionally TMobile and At&t didn't have the best rural coverage, but I know that has changed a lot the last few years
I look forward to the next video secrets of visiting Yellowstone
The Yellowstone Natl Park tips and tricks idea would make an excellent video with tons of views.
I feel like this is similar to my situation and I’m curious how people are making money as well. I don’t want to watch kids or dogs and computer stuff stresses me out lmao.
I really like those budget reviews, even if I am in Canada.
Same here! I want to send mine in just for a canada one haha but im not that brave
I found your videos a few weeks ago. I like both the podcast and your main channel, but even though the podcast channel has less views, I like the podcast channel more.😀
Love these videos so much! I watch all of them & have implemented some of the suggestions into my budget- thanks, Christine!
I would be interested in seeing more videos sent in from single person income budgets, if you have any of those in the works. I’m always curious to know how a single person is able to stay within the 25 or even 30% housing rule unless they are very high income.
Keep them coming & well done!
* But, even with the new budget reduction there is NO emergency fund set up
If they do not want to increase the mothers work hours at her current job or take on a regular part time job -
1. As a family they could do pizza delivery a few nights a week - not exciting but a few hours in the car together as well as earning a few bucks
2. have yardsales
3. She could offer to babysit 1 or 2 kids for after-school or other set hours a week
4. Sign up with a temp agency for temporary assignments - every 2 years I work a Logging Show that comes to my town. approximately 20 hours over Thursday, Friday, and Saturday for that 1 weekend
5. Get a paper route again maybe it can be done as a family maybe not
6. Sell items online eBay
7. Mow lawns
Best strategy is like Christine mentioned. Any pay increase increases your 401k contribution. I did that.
Yellowstone trip…definitely wait!!! I was 14 when I went with my family. I remember so much of that trip and I’m 34 now! I definitely recommend waiting!
Christine I completely agree with finding the right job/jobs where the potential to earn more income is hugely beneficial , my husband and I are currently opening our own business, and with that comes the potential to earn double and sometimes triple what we were previously making. With the hope of putting a significant amount aside for retirement and college funds for our teenage kids. Thanks for sound financial advice.
Very solid advice!! Agree that they need to get there income up. Maybe at least a short term side hustle. 😁
👍🏼
I love your series! Excellent tips!
Kudos to this family! Great job and great ideas in this video!
I love these videos and look forward to them. Thank you both.
I love you guys, keep up the great work, you're helping people!!!❤️
I feel so bad for people with the retirement when my husband retires he gets 100% and I get 45% we pay into tier 1 and tier 2 plus we do have others that when I inhereted money from my grandparents it went in there cause my parents said so. But we only have 2 debts is the house with a very low balance and the car our goal is to pay those off. We spend abot $300 or so a month on food but we hardly ever eat out except a few date nights. But with the cost everything it's just crazy.
Love it!!!
Thanks for sharing! I look forward to watching these videos whenever they come out and sometimes rewatch the ones I’ve already seen 😂❤
love this video!
Excellent 🎉
Love these! So interesting!
Loved this one has me looking at my expenses a little deeper
This podcast is one of my favorite shows to watch on UA-cam! Thanks for the great content.
These videos are so interesting to watch. It makes me realize how many excuses I have for the things that are in my budget. April
I'd drop 529 and put that in retirement.
I love your video's. Would you do one on a trip to yellowstone Park?
Would you be willing to do a Yellowstone video? It is on the list of places my husband and I are currently saving for and would love your opinion on what is worth it and what isn’t ❤️
Ohh please do a yellowstone budget tips and tricks episode! It seems sooo expensive.
2:40 Does this video exist somewhere? :) Very interested in the frugal tips on Yellowstone as that is one of the places my husband and I would love to visit!
❤️
Savings tips. Does her income get eaten up on gas for travel then is it worth it? They have great goals and ideas i agree considering new income options.
Unless he’s self employed, they should be getting a decent amount back annually at tax time…
Re: phones, I get my phone for $30 a month from mint and I have the unlimited plan 🎉
How do you like it? I deliver for third party apps! I switched to Verizon for better service. I need something that gets coverage and service everywhere lol!
@@ColdPizzuh when I switched from ATT, ATT told me that “a lot of people switch back” but I haven’t had any issues. However I don’t have the jobs you’re describing and I live in a city so I’m not sure how it would compare by you. I do know that mint had a map on their website that you can look to see how much coverage they have in your area- that might be helpful for you!
@@tessjune88 awesome! Thanks for the feedback! My town only has 57k people lol so it’s super small!
I love Mint. The service isn’t quite as good as AT&T, but barely any difference and totally worth saving $25/month per phone!!
I have straight talk and my plan is $35 plus tax and whatever fees which puts it at $39 a month. Have had it for years. Love it. They just put us all on Verizon towers which I do not love, ATT has better coverage out where I live. But I'm staying with them anyway.
Can’t wait to watch this one! I love these and I’ve tried to send ours in. I’m not sure if my messages get stuck in requests though 😅
My rent right now is 61% of my take-home pay. I'd kill for 4 big line items at 54%.
I understand. I am a senior on soc security. I have less than $300/ month once I pay my rent. I pray it does nor go up this year. I do side hustles when I can to set a little aside and to pay on debt.
I totally would enjoy a Yellowstone video
I gotta say this. I have to disagree with being overly focused on "making more money". We are mid fifties and we have never made much more than this couple. We managed to save money and get out of debt and stay out of debt when on paper our money didn't even meet our needs. Maybe we are some sort of miracle but I don't think so. I threw out the budget (gave me massive anxiety bc it didn't cover our bills) and while things were tight for a few years we paid off our house and saved for retirement and had some fun at the same time. And we pretty much eat whatever we want within reason. (We didn't eat out much then but now we do when we want.) We bought more expensive meat at the store if we wanted a treat. We spent more than $100 a month each on food or whatever Christine's rule is. We relied on God. I know it sounds crazy but that worked for us. We didn't want to go look for new jobs or move across the country. We wanted to make work what money we had. We both enjoy our jobs. I work PT for myself and have for 25 years. More money isn't everything and it can't make you happy. ❤
TOP TIP ⭐ Be open-minded when searching for jobs online... Filter by income than see if you have the skills needed. You might surprise yourself snd land the perfect job/income. 🤑
How do we get in touch for you to do a budget review for our family ?
What company is reliable and trustworthy to start an IRA account with?
Vanguard or Fidelity are both reputable in the U. S.
Agree with vanguard, fidelity and I have T Rowe Price and love it as well.
I agree with vanguard😊
Could somebody explain to a non American what a siding is? Thank you !
The material covering the exterior walls of your house. Could be made of wood, aluminum, concrete board, etc..
@@calebjames123 thanks!
May I respectfully suggest a larger whiteboard? It is almost impossible to see what you have written. Some of the ink colors don’t show up at all. Surely your tech skills and educational backgrounds will help improve your presentation.
"Can you help me with my budget?" "Sure, just make more money." 🙄
Yeah I actually really disagree with this. Hubby and I were just discussing it. We have never made much and we are very happy, debt free, and have a long marriage, we both enjoy our work. Making more money isn't everything. I kind of wish they wouldn't dwell there so often but hey it's not my channel or my show lol. When I used to listen to Dave Ramsey the families doing the best and getting out of MAJOR debt made around 40k and had 2 kids. That was prob 20 years ago but still food for thought. 60k and 1 kid ain't bad.